Canadian Natural Resources (TSE:CNQ) Stock Price Expected to Rise, Scotiabank Analyst Says

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its price objective boosted by equities researchers at Scotiabank from C$58.00 to C$62.00 in a note issued to investors on Friday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Scotiabank’s price objective points to a potential downside of 1.85% from the company’s current price.

Several other equities analysts have also issued reports on CNQ. Morgan Stanley lowered their price target on Canadian Natural Resources from C$51.00 to C$50.00 in a research report on Friday, January 23rd. ATB Cormark Capital Markets upped their price objective on Canadian Natural Resources from C$56.00 to C$65.00 and gave the company an “outperform” rating in a research report on Friday. TD Securities lifted their price objective on Canadian Natural Resources from C$51.00 to C$64.00 and gave the stock a “buy” rating in a report on Friday. National Bank Financial upped their target price on shares of Canadian Natural Resources from C$47.00 to C$54.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 3rd. Finally, Evercore downgraded shares of Canadian Natural Resources from an “outperform” rating to a “hold” rating and set a C$50.00 price objective on the stock. in a research report on Tuesday, January 6th. Six research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Canadian Natural Resources currently has an average rating of “Moderate Buy” and a consensus target price of C$58.42.

Canadian Natural Resources Stock Up 2.0%

Shares of TSE:CNQ traded up C$1.21 during trading on Friday, hitting C$63.17. The stock had a trading volume of 5,804,543 shares, compared to its average volume of 12,278,394. The company has a market capitalization of C$131.59 billion, a PE ratio of 19.93, a PEG ratio of 0.53 and a beta of 0.81. The company has a quick ratio of 0.54, a current ratio of 0.86 and a debt-to-equity ratio of 42.68. The firm’s fifty day moving average is C$51.50 and its 200 day moving average is C$47.00. Canadian Natural Resources has a 12 month low of C$34.92 and a 12 month high of C$64.00.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last released its earnings results on Thursday, March 5th. The company reported C$0.82 earnings per share for the quarter. Canadian Natural Resources had a net margin of 15.49% and a return on equity of 16.47%. Analysts anticipate that Canadian Natural Resources will post 3.833989 EPS for the current fiscal year.

Insider Buying and Selling

In other Canadian Natural Resources news, insider Brenda Gayle Balog sold 2,252 shares of the firm’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of C$49.98, for a total transaction of C$112,554.96. Following the sale, the insider directly owned 47,965 shares of the company’s stock, valued at C$2,397,290.70. This trade represents a 4.48% decrease in their ownership of the stock. Also, insider Trevor Wagil sold 14,500 shares of the stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of C$49.96, for a total value of C$724,420.00. Following the sale, the insider owned 14,779 shares of the company’s stock, valued at C$738,358.84. This represents a 49.52% decrease in their position. Insiders have sold a total of 51,775 shares of company stock worth $2,571,074 in the last three months. Corporate insiders own 4.26% of the company’s stock.

Canadian Natural Resources Company Profile

Canadian Natural Resources is one of the largest oil and natural gas producers in western Canada, supplemented by operations in the North Sea and Offshore Africa. The company’s portfolio includes light and medium oil, heavy oil, bitumen, synthetic oil, natural gas liquids, and natural gas. Production averaged 1.16 million barrels of oil equivalent per day in 2020, and the company estimates that it holds over 11.5 billion boe of proven and probable crude oil and natural gas reserves.